INJ tokens are issued based on the Ethereum blockchain. It is used to pay transaction fees, stake for rewards and govern the direction of the platform.
#Which blockchain does INJ belong to?
INJ tokens are issued based on the Ethereum blockchain.
Detailed explanation:
INJ is the native token of Injective Protocol, which is a decentralized financial trading platform. INJ tokens are used to pay transaction fees on the platform, to be staked for rewards, and to govern the direction of the platform.
Ethereum is a decentralized, open source blockchain platform that allows users to create and deploy smart contracts. The INJ token is an ERC-20 token that is compatible with the Ethereum Virtual Machine (EVM), meaning it can be traded and used on the Ethereum network.
The issuance and management of INJ tokens are controlled by the Injective Protocol team. The team regularly releases updates and improvements to ensure the stability and efficiency of the platform.
Therefore, INJ tokens are issued on the Ethereum blockchain, leveraging the security, scalability and decentralization features of the Ethereum platform to support the operations of Injective Protocol.
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